⚠️BREAKING: *EUROPEAN STOCKS SINK ACROSS THE REGION TO END THE WEEK AMID ONGOING BANK FEARS 🇪🇺🇩🇪🇫🇷🇮🇹🇪🇸🇬🇧
index, expecting the benchmark to end the year at 445 points — around its current level — down from a 475-point forecast issued just last month.
“Volatility in the global banking sector should shift investors’ attention to recession risks and deteriorating fundamentals,” said Citi, in a note, expecting company earnings to contract 5% to 10% this year. ECB President Christine Lagarde is set to speak at the European Council meeting later in the session, while European PMIs will be studied carefully as they could have a bearing on monetary policy and markets.rose a stronger-than-expected 1.2% on the month in February, an improvement from the revised 0.9% rise seen in January, which translated into a drop of 3.5% on an annual basis.
Oil edged higher Friday, ending a largely positive week on the up despite U.S. officials expressing caution over the length of time it would take to refill the country’s Strategic Petroleum Reserve, which has fallen to a near 50-year low. U.S. Energy Secretary Jennifer Granholm said on Thursday that it will be “difficult” to refill government oil reserves this year, undermining previous indications that the Biden administration will begin restocking if prices traded around $67 to $72 a barrel.
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